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Major bank rating | JPMorgan: Upgraded Kunlun Energy's rating to "shareholding" and made it the top choice in the industry along with ENN Energy.
Guolonghui November 12th | JPMorgan released a report stating that since July, Kunlun Energy's performance has underperformed the index by about 30%, possibly due to the rotation of companies with high beta values in the industry, as well as the spillover effects of the recent oil price decline. JPMorgan believes that the pullback in Kunlun Energy's stock price provides an attractive entry point, as the current valuation is equivalent to a forecasted PE ratio of less than 9 times for the next year, with a yield of over 5%. There are two potential catalysts in the future including a possible decline in global oil and natural gas prices which may lead to a reduction in industry procurement costs, and around 70% of Kunlun Energy's natural gas sales come from the industrial sector, which may be affected.
Hydrogen energy concept stocks are on the rise. ENN Energy (02688) rose by 4.88%. Sichuan further promotes the development of the entire hydrogen energy industry chain.
Jingu Finance News | Hydrogen energy concept stocks performing well, ENN Energy (02688) up 4.88%, Jingcheng MAC (00187) up 4.71%, CH Energy Eng (03996) up 2.73%, Weichai Power (02338) up 2.39%, Dongyue Group (00189) up 1.47%. On the news front, the General Office of the People's Government of Sichuan Province issued the 'Action Plan for Further Promoting the Development and Popularization of the Entire Industry Chain of Hydrogen Energy in Sichuan Province (2024-2027)'. Striving to achieve by 2027, Sichuan Province's hydrogen energy industry in sse high-end equipment manufacturing 60 index, key core technologies, basic materials.
ENN ENERGY To Go Ex-Dividend On November 1st, 2024 With 0.65 HKD Dividend Per Share
October 31st (Beijing Time) - $ENN ENERGY(02688.HK)$ is trading ex-dividend on November 1st, 2024.Shareholders of record on November 4th, 2024 will receive 0.65 HKD dividend per share on November 29
Green energy concept stocks are strong. Xinte Energy (01799) rose by 28.18%. Institutions believe that the earnings situation of green energy operators is expected to rebound from the bottom.
Jingu Wealth News | Green energy concept stocks were strong, Xinte Energy (01799) rose by 28.18%, Flat Glass (06865) rose by 11.97%, Goldwind Science & Technology (02208) rose by 5.64%, Xinyi Energy (03868) rose by 4.35%, CGN New Energy (01811) rose by 1.26%, ENN Energy (02688) rose by 1.21%. Huayuan Securities stated that on October 25th, the State Grid Corporation issued the "National Unified Electricity Market Development Plan Blue Book (Draft for Soliciting Opinions)" which provides a prospect and clear plan for the establishment of the national electricity market in China, planning for 2025.
[Brokerage Focus] Bocom Intl maintains a buy rating on ENN Energy (02688), with Q3 retail gas sales volume and gross margin in line with expectations.
Golden King Finance | Bocom Intl issued research reports, stating that enn energy (02688) released operating data for the third quarter, with a 5.5% year-on-year increase in retail gas volume and a gross gas margin of 0.54 yuan per cubic meter. Both retail gas sales volume and gross margin are in line with expectations. Currently, the company maintains guidance for a 5% increase in retail gas sales volume and a 10% increase in sector gross profit for the full year 2024. As for the renewable energy sector, sales volumes in the third quarter/the first nine months increased by 13%/21% year-on-year, and management expects heat sales to increase quarter-on-quarter in the fourth quarter of this year. With new projects contributing additional revenue, the company still expects the overall energy sales to basically achieve year-on-year growth.
enn energy (2688.HK): The operating data for the third quarter is generally in line with expectations.
Retail gas sales volume and gross profit margin in the third quarter met expectations. The company released operational data for the third quarter, with a year-on-year increase of 5.5% in retail gas volume during the period, of which residential and business gas sales increased by 4.6%/6.2% year-on-year, notably the increase in business sales.
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